Overview
An estoppel tenant certificate, often referred to as a tenant estoppel certificate, is a document used in real estate transactions. It is typically provided by a tenant to a landlord, or a potential buyer of the property, to confirm the current status of the lease agreement.
Key points about an estoppel tenant certificate
Here are the key points about an estoppel tenant certificate:
-
Verification of Lease Terms: The certificate confirms important details about the lease, such as the rental amount, lease term, security deposit, and any other obligations or rights under the lease.
-
Legal Assurance: It serves as a legal assurance that the tenant's statements about the lease are accurate and can be relied upon by third parties, such as potential buyers or lenders.
-
Dispute Prevention: By providing a written record of the lease terms, the certificate helps prevent future disputes between the tenant and the landlord or new property owner.
-
Due Diligence: It is often a part of the due diligence process in real estate transactions, especially when a property with existing tenants is being sold.
-
Binding Document: Once signed, the tenant is typically bound by the statements made in the certificate, which can impact their legal rights and obligations.
This document is important for ensuring transparency and clarity in real estate transactions involving leased properties.
Contact us
Inquiries about leasing Commonwealth-owned space should be directed to (717) 787-4394.